Obasanjo opens private purse
2004-11-24 15:05
Cape Town - Nigeria's President Olusegun Obasanjo has for the first time publicly declared the income from his private farm in the south-west.
A spokesperson for the president told BBC News he was earning 30 million naira (R1.4m) a month from his farm in Otta.
The public declaration comes amid rumours that he was stealing money from the Nigerian state.
According to the BBC's Nigeria editor Bilkisu Labaran Ohyoma the farm is massive and diverse, with various livestock including chickens, ostriches, pigs and fish, as well as crops.
The grounds also include a conference centre, where Obasanjo recently hosted a regional summit on the crisis in Ivory Coast.
Obasanjo's spokesperson Femi Fani Kayode said his farm was managed by professionals and much of the money was reinvested to develop the property.
On the streets of the capital, Abuja, reaction to the declaration was mixed.
Some Nigerians felt it is unfair for Obasanjo to earn so much money when most are poor, while others said Obasanjo had earned the money through hard work.
Despite the oil wealth, the majority of the population lives on less than $1 a day.
One Nigerian told the BBC that it could do no harm for public officials to declare their wealth.
Africa's major oil producer is ranked among the world's most corrupt nations.
- BBC News
- Finance24